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JPMorgan Chase CEO Jamie Dimon said recently that Basel III capital rules are "anti-American" and that the US should consider exiting the Basel Committee on Banking Supervision. His comments are being scrutinised by commentators and others, with some saying he has valid points and others arguing that the rules won't put the US at a disadvantage. Meanwhile, EU Internal Market Commissioner Michel Barnier responded to Dimon's comments by defending the Basel rules.

JPMorgan Chase CEO Jamie Dimon said recently that Basel III capital rules are "anti-American" and that the U.S. should consider leaving the Basel Committee on Banking Supervision. Some commentators say he has valid points while others argue that the rules won't put the U.S. at a disadvantage. EU Internal Market Commissioner Michel Barnier defended the Basel rules.

JPMorgan Chase CEO Jamie Dimon said international capital rules from the Basel Committee on Banking Supervision are "anti-American," as he suggested that the U.S. reconsider its involvement in the group. "I'm very close to thinking the United States shouldn't be in Basel anymore," Mr. Dimon said. "I would not have agreed to rules that are blatantly anti-American."

Michel Barnier, internal-market commissioner for the EU, opposed a call from JPMorgan Chase CEO Jamie Dimon that the U.S. not support increased capital requirements as mandated by the Basel III accord. Dimon called the rules "anti-American." Barnier said the requirements will help make the industry more "solid and stable."

JPMorgan Chase CEO Jamie Dimon said recently that Basel III capital rules are "anti-American" and that the U.S. should consider leaving the Basel Committee on Banking Supervision. Some commentators say he has valid points while others argue that the rules won't put the U.S. at a disadvantage. EU Internal Market Commissioner Michel Barnier defended the Basel rules.